Difference between revisions of "Finances"

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(updated with current numbers)
(updated expenses)
Line 7: Line 7:
  
 
===Utilities===
 
===Utilities===
* Gas & Electric - ~$1,600/mo
+
* Gas & Electric - ~$1,500/mo
* Water - ~$300/mo
+
* Water - ~$350/mo
* Garbage & Recycling - $915/mo
+
* Garbage & Recycling - $916/mo
* Internet - $165/mo
+
* Internet - $152/mo
  
 
===Insurance===
 
===Insurance===
 
* Directors & Officers Insurance - $178/mo
 
* Directors & Officers Insurance - $178/mo
 
* General Liability - $285/mo
 
* General Liability - $285/mo
* Property - $578/mo
+
* Property - $665/mo
  
 
===Other Expenses===
 
===Other Expenses===
Line 21: Line 21:
 
* Independent Contractors: ~$1000/mo
 
* Independent Contractors: ~$1000/mo
  
'Total: ~$11,000'
+
'Total: ~$11,250'
  
 
==Monthly Income==
 
==Monthly Income==
Line 28: Line 28:
 
* Chiapas Support Committee: $206
 
* Chiapas Support Committee: $206
 
* Counter Culture Labs: $2120
 
* Counter Culture Labs: $2120
* FYE: $400
+
* FYE: $350
 
* Global Women's Strike - Omni Collective: $200
 
* Global Women's Strike - Omni Collective: $200
 
* Liberated Lens: $300
 
* Liberated Lens: $300

Revision as of 11:47, 16 March 2020

Financial Information

Current Monthly Expenses

As of fourth quarter 2019, we pay roughly $10,000/month for various expenses. However, these calculations do not include various unexpected costs, such as roof repair, sewer lateral, etc. We are attempting to build a capital reserve fund with a combination of event rental income as well as grants and large donations. Currently, we have an operational reserve fund of approximately $30K.

Mortgage

Starting Jan 1st, 2017 we officially stopped paying rent and started paying off a mortgage loan! Our loan is for $975,000 at 5.5% interest, with a balloon payment due Jan 1st, 2021.

  • $5,365.61 + 5.5% ($312.28) = $5,677.89/mo

Utilities

  • Gas & Electric - ~$1,500/mo
  • Water - ~$350/mo
  • Garbage & Recycling - $916/mo
  • Internet - $152/mo

Insurance

  • Directors & Officers Insurance - $178/mo
  • General Liability - $285/mo
  • Property - $665/mo

Other Expenses

  • Maintenance & Building Supplies - ~$500/mo
  • Independent Contractors: ~$1000/mo

'Total: ~$11,250'

Monthly Income

Revenue from Member Collectives

  • Chiapas Support Committee: $206
  • Counter Culture Labs: $2120
  • FYE: $350
  • Global Women's Strike - Omni Collective: $200
  • Liberated Lens: $300
  • Phat Beets: $625
  • Sudo Room: $2000

'Total: $5,851/month'

Revenue from Other Supporters

  • The Commons Working Group works with many different groups and individuals that rent out spaces in the Omni on a sliding-scale basis. On average, space rental generates between $4000-$6000 each month. A fun working group that could always use more volunteers, ping the list to help with event coordination!
  • We are currently researching grants for capital improvement projects, such as building accessibility, kitchen remodeling, and structural improvements. Please drop us a line at fundraising AT omnicommons DOT org if you have any suggestions, or come to a Fundraising Working Group meeting!

Financial Statements

Sudo Room (Nov 2013-Nov 2016) > Omni Commons (Nov 2016-Current)

Omni Oakland Commons

990 Tax Forms

Sudo Room (2013-Nov 2016) > Omni Commons (Nov 2016-Present)

Omni Oakland Commons